The expert of virtual try-on for cosmetic and beauty products is expanding its footprint to luxury fashion with the acquisition of Wannaby Inc. to Farfetch.
Known for its virtual try-on technology and digitalization solutions for the fashion industry, Wannaby has served over 30 top-tier luxury brands. Its technologies help consumers around the world to virtually try shoes, bags, and other premum fashion products. This strategic move will help Perfect Corp. to expand its offering of digital experiences into new luxury market segments, thus strengthening its position as a technology leader in virtual try-on (VTO). Based in Vilnius, Lithuania, the startup was acquired by Farfetch in 2022.
“By welcoming Wannaby’s capabilities into our portfolio, we are poised to enrich our digital solutions and reinforce our presence in the fashion tech landscape. This expansion into new fashion categories such as shoes and bags demonstrates our commitment to innovation and our ability to deliver exceptional value to clients across diverse sectors,” commented Alice Chang, Founder and CEO of Perfect Corp.
Collaborative relationship with Farfetch
This operation also marks the beginning of a collaborative relationship between Perfect Corp. and Farfetch.
Indeed, after the acquisition, the global marketplace for the luxury fashion industry will continue to utilize Wannaby’s solutions to enhance the shopping experience on its online stores.
The acquisition is expected to be finalized in the coming months, subject to customary closing conditions.
